We are married and living in our primary residence which is paid off and valued ~$570K. Our house and other assets are all owned by our revocable Living Trust. We have never filed a Homestead Exemption in Nevada, but recently friends have told us we should do this to protect the equity in our home.... Read more »
Nevada homestead exemption protects the equity in your primary residence (w/ proper homestead filing) up to $550K- cheap & easy protection! A revocable living trust typically does not provide ANY asset protection to the creators of the trust, so it's probably wise to file your homestead. It can be...Read more »
My cousin just petitioned on behalf of his deceased father(5yrs passed), even though he hasn't seen or spoken to my recently deceased uncle in years. Even though my mother is alive can I also petition to get a portion of my uncle's estate?
My uncle had written off everyone in the family... Read more »
If your uncle was not survived by a wife or patents or children and no valid will then chances are his estate will be divided into one share for each sibling with children of siblings inheriting in the place of deceased siblings. With your mother (who I assume is his sibling) still alive, she would...Read more »
A trust becomes irrevocable upon the death of the settlor and, furthermore, the executor only administers the probate estate. Trust assets are not part of the probate estate. So, unless there are some pretty extraordinary circumstances that you have not mentioned, no, an executor cannot remove a...Read more »
And now is selling all his stuff. There is no will, im an only child and he was never married so I should be in charge of his property, belongings, etc. yet the cops won't help me cuz of "squatters rights". I live in ID so it makes it difficult. I can't afford an attorney what am I supposed to do?
In most states a deceased trustee is removed from title by recording an Affidavit of Death of Trustee. However, that does not guarantee that your mother has the authority to do what she is proposing. The only way to determine whether she can do that would be to review the trust, and even if the...Read more »
For all practical purposes, there is no time limit for living trusts in Nevada, but to answer your question, in Nevada a nonvested property interest must vest within 365 years after its creation. I am not aware of any trust case in Nevada that has tested that limit, and I doubt I will see such a...Read more »
It is true in some cases and not others. That is why they wrote "maybe" instead of "is". Estate plans should be reviewed every few years for possible changes needed due to changes in laws and also every time a significant change occurs within the family or the field of beneficiaries, such as...Read more »
Deed upon death leaves property to myself and my sister as JT. Will leaves property to my sister only unless she sells it, at which time the proceeds go to the 5 heirs as stated in the will. I am the financial guardian for his estate. My father passed away, last month, my mother in 2014. We plan to... Read more »
The Will signed by your bf would need to be viewed to see whether it is a valid Will under NV Statute; A registered domestic partner does have rights under the NV Statutes, so I would recommend that you meet with an attorney to review the Will and discuss your...Read more »
Under NV Statute, the Will should be filed with the Court. If there are no assets, only liabilities, then there is no reason to spend funds opening an insolvent Probate. It would be different if there were assets to be transferred to you as the heir.
My mom died intestate when I was 17. I am her only child and she was a widow her only living next of kin is her brother. I am trying to avoid going through the court since washoe county doesn't want to let me file everything with the court on my own but hire an attorney instead. I realize that... Read more »
You can't get title with an affidavit. You will need to do a probate. The proper value of the estate is the value of the home at the time of your mother's death which is probably a lot less than the current value. The Court will accept the Zillow.com value and the Zillow.com website usually lets...Read more »
As the value of the house is in excess of $100,000.00, you will need to open a Summary Administration and go through the motions through the Court to have the house transferred to yourself as sole heir.
You mentioned that you own the property as 'community property' - did you mean 'joint tenants'? If you are joint tenants then the property will revert to the surviving joint tenant(s) upon recording of an Affidavit Terminating the Joint Tenancy....Read more »
Stepmother/Father bought house together three years ago in vegas and she may have been his beneficiary for his 401k but we would like to see the will because he previously told me we were mentioned in it for when she dies.
Haven't seen online any filing of the will with the courts or... Read more »
1. Any person having possession of a will shall, within 30 days after knowledge of the death of the person who executed the will, deliver it to the clerk of the district court which has jurisdiction of the case or to...Read more »
Our firm does uncontested probates at discounted rates through out Nevada if the are Set Asides, Summary Administration or General Administration. These terms are explained on our website, probatenevada.net
If the probate is contested (because family members are fighting) you want to...Read more »
Typically you can transfer real property, personal property, membership interests, stocks, vehicles, and the like. Assets that cannot be 'owned' by a revocable trust are Qualified Plans [IRA, 401K], Annuities and Life Insurance Policies. [Life Insurance Policies can be owned by an Irrevocable...Read more »
If there is equity in the home, a Probate will need to be opened to transfer the residence to the sole heir, or to allow the sole heir to sell the residence, unless Mom filed a Deed Upon death prior to her passing.
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